Main Subject - Internet and Businesses Online

As a business owner, when you set up a merchant account to enable your customers the ability to pay for your products or services using credit cards (or debit cards with a Visa or Masterc

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ard Logo), you will have some fees associated with the credit card transactions.

The specific fee amounts that you pay will depend on the merchant account provider you select to provide

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

our credit card processing service; however, there is a list of typical fees that the majority of providers charge business owners in exchange for the ability to accept credit as payment.

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

Discount Rates

Visa and MasterCard have what is called “interchange” rates. They range in price- so in order to make it easier, the merchant providers created three categories.

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

Qualified Discount Rate – a percentage is paid from each dollar charged.

Mid-Qualified Rate – does not apply to merchants that manually enter transactions.

Non-Qualified Rate – added to

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

the qualified rate n certain transactions. Also get billed this higher rate if you don’t use address verification service (AVS) when you manually enter transactions.

Other fees many me

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

chant account providers charge their business customers include, but are not limited to the following:

Reward Cards- most merchant providers charge higher rates if the consumer pays usin

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

a reward card.

Transaction Fees- a specific, flat rate that is paid on every sale processed through the credit card processor. (Sometimes the transaction fee is called the interchange

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ee, authorization fee, or per inquiry fee).

Address Verification Service (AVS)- merchant account providers charge a small fee for the validation service to ensure that the billing addres

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

s provided in the online checkout process matches the issuing bank’s records. Not using this service will result in hefty charges on the processing of the card for that sale.

Batch Fees

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

most merchant account providers require that customers close out their transactions a minimum of one time each day. The batch fee pays for expenses for the gateway or software that acce

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ses the credit card processing network. If you don’t have transactions to process, there is no batch fee to pay.

Monthly Statement or Customer Service Fee – most merchant account provid

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

rs charge a monthly fee in order to cover their monthly costs of operation (paying their customer service team for example).

Monthly Minimum Fee- some merchant account providers require

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

you process a minimum amounts of sales per month, or you pay a monthly minimum. Monthly minimums tend to range between $15 and $40 per month.

Gateway Fees- for some merchant accounts,

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

here are fees for internet and mail order merchants to use an internet gateway service such as Authorize.net, although some merchant providers will cover this fee on their customer’s beha

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

f as part of the package deal. If you are solely an internet business, you’ll want to look for an internet merchant account that includes the gateway service as part of the package.

Ann

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

al Fees- often charged by merchant account providers- particularly the merchant account providers that offer free terminal equipment. There are numerous merchant account providers that d

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

o not charge an annual fee, so you may want to shop around if the first few you look at require an annual fee. Sometimes it would be cheaper to purchase the equipment than to pay an ongo

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ng annual fee.

Cancellation/Termination Fees- Most merchant accounts require a contract agreement of one or two years and if you cancel early, you are likely to be charged a termination

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ee.

Chargeback/Retrieval Fees- When a customer requests a refund (or the customer’s credit card issuer requests a refund), merchant account providers typically charge a “chargeback” fee

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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